PG&E bondholders, wildfire victims to submit rival restructuring plan

A federal bankruptcy judge in San Francisco cleared the way for a group of PG&E bondholders and wildfire victims to submit a rival financial restructuring plan to compete with the utility’s own proposal.

PG&E filed for Chapter 11 bankruptcy protection in January, citing billions of dollars of liability for the 2017 and 2018 Northern California wildfires sparked by failures in electrical lines.